• Cryptocurrencies,  Technology

    China completes digital yuan design

    The People’s Bank of China says it has completed the ‘top-level design’ and joint testing of its forthcoming central bank digital currency 

    The next steps in the country’s digital currency/electronic payment, or DC/EP, project—which it has been hammering away at for five years—are to “follow the principles of stability, security and control” and to “select pilot verification areas, scenarios and service scopes,” said Mu Changchun, the head of the PBOC’s digital currency research institute.

  • Chinese tech giant Baidu has launched The Matrix, er, the Xuperchain blockchain (via Baidu).
    Technology

    Chinese search giant Baidu launches Xuperchain blockchain

    At about one-seventh the cost of competing blockchain-as-a-services platforms, the goal is to make it easier for small companies to launch DApps

    Baidu Xuperchain is a “blockchain basic service” for small- to medium-size businesses that want to quickly and easily deploy DApps and use smart contracts. It also supports President Xi Jinping's October call to make China the world leader in blockchain.

  • Coming not-so-soon?
    Cryptocurrencies

    China pilots state-issued digital currency

    Despite that, a real central bank digital currency could be a long way off, a Chinese publication reported; Huawei deeply involved

    China announced plans to launch real-world test of a central bank digital currency on Dec. 9. But an actual central bank digital currency is probably not coming very soon, the article said.

  • The French Army couldn't beat China in the Tonkin War of 1884-5. Can it beat China's central bank to a to a digital currency in 2020? (via Banque de France)
    Cryptocurrencies,  People,  Politics

    France: 2020 national digital currency bridge to e-euro

    François Villeroy de Galhau appoints Nathalie Aufauvre to build a French national digital currency leading to an e-euro

    Banque de France Governor François Villeroy de Galhau is planning to test a central bank-issued digital currency by 2020 to do it. Along the way, he’s making a play for French leadership of the European economy.